Facebook, Inc. (FB) Stock Rating Reaffirmed by Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research report released on Tuesday, July 11th. They currently have a $185.00 price objective on the social networking company’s stock.

Several other research firms have also recently commented on FB. Wells Fargo & Company reaffirmed an overweight rating on shares of Facebook in a report on Wednesday, April 19th. JPMorgan Chase & Co. raised their target price on Facebook from $170.00 to $182.00 and gave the stock an overweight rating in a research note on Thursday, May 4th. Aegis reissued a buy rating on shares of Facebook in a research note on Monday, May 22nd. Instinet reissued a buy rating on shares of Facebook in a research note on Saturday, March 25th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $180.00 target price on shares of Facebook in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $182.00.

Shares of Facebook (FB) opened at 168.08 on Tuesday. Facebook has a 52 week low of $113.55 and a 52 week high of $175.49. The company has a 50-day moving average price of $161.50 and a 200-day moving average price of $147.44. The company has a market capitalization of $488.14 billion, a PE ratio of 37.62 and a beta of 0.70.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts predict that Facebook will post $5.33 earnings per share for the current year.

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In related news, Director Susan Desmond-Hellmann sold 209 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total transaction of $30,236.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total transaction of $128,910.00. Following the transaction, the vice president now owns 82,406 shares in the company, valued at approximately $14,163,943.28. The disclosure for this sale can be found here. Insiders sold 10,221,076 shares of company stock worth $1,613,683,519 in the last three months. 19.08% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI raised its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares during the period. Hemenway Trust Co LLC purchased a new position in Facebook during the fourth quarter worth approximately $109,000. D. Scott Neal Inc. raised its position in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares in the last quarter. GFI Investment Counsel Ltd. purchased a new position in Facebook during the fourth quarter worth approximately $115,000. Finally, Cohen Capital Management Inc. purchased a new position in Facebook during the first quarter worth approximately $121,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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